Price struggles below the resistance zone of $3.28 trillion to $3.31 trillion. This is a key level preventing the continuation of the bull market.

⚠️ Head and Shoulders Pattern:

A bearish head and shoulders pattern is clearly visible; a breakout of the neckline indicates potential downside risk.

  • Left Shoulder: Formed in early May

  • Head: Peak in mid-May

  • Right Shoulder: Possible lower high in late May

  • Neckline Support: Approximately $3.17 trillion to $3.20 trillion area

🔻 Failure Scenario:

  • If the neckline is (decisively) broken, price may move towards the ($3.04 trillion support zone)

  • Further declines could push the market to the ($2.76 trillion strong support zone), where support has historically been effective

📈 Possible Market Scenarios

🟡 Bullish Recovery Path:

  • Bouncing from the neckline without breaking through

  • Quick re-test resistance

  • A breakout may occur if macro sentiment improves

🔴 Bearish Path:

  • Break below the neckline (white trend line)

  • Re-test and rejection in the $3.04T area

  • Deep pullback to the $2.76 trillion area before stabilizing

🧠 Market Outlook

  • Current structure leans towards cautious action—(waiting for confirmation) breakout or reclaim of resistance levels

  • The bullish invalidation of the head and shoulders pattern requires a daily closing price (above $3.31 trillion)

  • Macro events and Bitcoin dominance will significantly impact the next major move